March shows downturn in EU car market, highlighting decline in electric vehicle sales

March’s new car registration figures from the European Automobile Manufacturers’ Association (ACEA) have shown a decline following growth in the first two months of 2024. Across the EU, registrations declined by -5.2 per cent, this included major markets like Germany (-6.2 per cent), Spain (-4.7 per cent), Italy (-3.7 per cent), and France (-1.5 per cent). However, for Q1, car registrations increased by 4.4 per cent in the EU, with solid growth in Italy (+5.7 per cent), France (+5.7 per cent), Germany (+4.2 per cent), and Spain (+3.1 per cent).